Troubled Crypto Exchange FTX Reopens Withdrawals

  • The price of Bitcoin, along with other digital coins, fell after the world's biggest cryptocurrency exchange, Binance, pulled out of a deal to buy FTX FTT/USD, citing due diligence concerns.
  • It has left some FTX customers unable to withdraw from the exchange, which is used to buy and sell various digital tokens.
  • There are also fears of further crypto market volatility if FTX goes bust.
  • Troubled crypto exchange FTX's financial health concerns reportedly triggered $6 billion (£5.2 billion) of withdrawals in three days.
  • Related: FTX Stares At More Trouble As Justice Department Reportedly Joins SEC Probe Into Liquidity Crisis.
  • "I thought FTX was safe," one customer told the BBC.
  • Binance said reports of "mishandled customer funds and alleged US agency investigations" had swayed its decision not to buy FTX.
  • Binance said in a statement on Twitter that the issues facing FTX were "beyond our control or ability to help."
  • FTX suspended the onboarding of new clients and withdrawals until further notice.
  • But according to on-chain data provided by Nansen, FTX has reopened withdrawals.
  • Several users have been able to withdraw funds, including one worth $2.6 million and another worth $1.3 million.
  • Photo via Shutterstock
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